Morning Spread

Morning Spread

Monday 13th June 2016
IndexLevelChg (%)
UK Market6094.66-0.35
Dow Indust Avg17865.34-0.67
S&P 5002096.07-0.92
Nasdaq Composite4894.55-1.29
Nikkei 22516019.18-3.51
Hang Seng20512.99-2.52
IndexLevelChg (%)
Nymex 1m48.63-0.90
Gold Spot1282.52+0.67
GBP/USD1.4174+0.59
GBP/EUR1.2582-0.73
EUR/USD1.1265+0.13
USD/JPY106.10+0.83

European stocks declined this morning as investor anxiety that the UK will leave the Ruropean Union deepened. ESTX 50 (-0.85%), CAC 40 (-0.83%), Dax (-0.95%) and the UK markets (-0.29%) all posted losses in early trading. BMW AG fell -1.6% after its sales chief told Automobilwoche that the US market will stagnate at best in 2016. Siemens retreated -1.3% after CEO Joe Kaeser said his company isn’t bidding for Kuka AG. G4S Plc declined -5.1% after confirming that the man suspected of killing 50 people and wounding 53 others in a mass shooting yesterday in Florida was an employee since 2007.

US stocks dropped following another drop in oil prices and renewed worries about the global economy. The Dow Jones Industrial Average (-0.67%), S&P 500 (-0.92%) and Nasdaq Composite (-1.29%) all retreated. Investors are bracing themselves for the next Federal Reserve meeting, though the US central bank is expected to leave rates unchanged. ConocoPhillips dropped -4.4% and Schlumberger declined -1.8% as US crude retreated -2.9%. Intel gained +0.3% after Bloomberg reported that the company would replace Qualcomm as an Apple supplier for some iPhones. Qualcomm was down -2.1%. Consumer stocks fell, with some of the sharpest losses going to big names. Netflix slid -3.4% and Amazon declined -1.3%.

Asian stocks declined as uncertainty ahead of central bank meetings and a vote on the UK leaving the European Union sent investors seeking safety. The S&P/ASX 200 (-0.92%), Hang Seng (-2.52%) and the Nikkei 225 (-3.51%) all dropped. Inpex Corp declined -4.9% as crude fell after a number of rigs drilling for oil in the US rose for a second week. Electric appliance makers and car manufacturers were among the biggest drags in Japan. Hitachi Ltd fell -4.7% and Mazda Motor Corp sank -5.3%.